US bone broth brand Kettle & Fire has raised $8 million through a Series A funding round as it targets multi-channel growth and new product innovation.
The round was led by Cavu Venture Partners, which has already invested in Bulletproof 360 and coconut milk-based herb drink brand Rebbl this year.
As part of the agreement, Cavu co-founder and managing partner Clayton Christopher will join the Kettle & Fire board.
The brand was co-founded by brothers Nick and Justin Mares in 2016. Justin had been researching bone broth as a means to improve physical performance when his brother suffered a knee injury.
The brothers looked for high-quality bone broth but said they were unable to find organic or grass-fed, shelf-stable bone broth on the market. Nick then began creating bone broth using 100% grass-fed bones and organic ingredients.
Kettle & Fire launched with three grass-fed beef and organic chicken bone broth offerings, and recently expanded into bone broth-based soups, such as miso, Thai curry, tomato and grass-fed chili.
The brand’s products are currently available in more than 6,500 US stores and the brothers aim to launch additional products later this year.
Justin Mares said: “Nick and I created Kettle & Fire to help make delicious, nutrient-rich bone broth a part of people’s daily lives. Bone broth has so many health benefits for our gut, our skin, and our overall health due to its anti-inflammatory amino acids, bioavailable minerals, high collagen content and healing compounds.
“As passionate as we are about health, we’re also passionate about taste. Kettle & Fire broths are so delicious that many of our customers sip them right from a cup.”
Nick Mares said: “Justin and are I thrilled to be partnering with Clayton and Cavu. The partners there are CPG experts, founders and operators who have grown food and beverage companies into iconic global brands.
“They’re also as passionate as we are about getting better-for-you products into the hands of Americans who want to eat and drink nutritious foods without sacrificing taste or convenience. We couldn’t be more excited to be partnering with Cavu in this next stage of our growth.”
Cavu co-founder Clayton Christopher added: “Kettle & Fire is exactly the type of brand partner we seek. Consumers appreciate the superiority of their products in terms of taste, convenience and nutritional punch relative to other soups and broths currently available on the market. Justin and Nick are reinventing not just the bone broth category, but also the entire soup category through their robust innovation pipeline.
“They’re meeting the intense demand for their high-quality, nutrient-dense bone broth products through their best-in-class e-commerce platform and their robust national retail distribution. We’re delighted to welcome Nick, Justin and the Kettle & Fire team to the Cavu family.”
© FoodBev Media Ltd 2021
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